RBI relaxes cash withdrawal limit with immediate effect
MUMBAI The Reserve Bank of India (RBI) on Monday relaxed cash withdrawal limits from automated teller machines (ATMs) and current accounts with immediate effect.
Reuters Market Eye - Property firms such as HDIL gain on hopes for a pickup in demand tied to the Diwali festival season in mid-November, a time considered auspicious in the country.
"Real estate stock valuations are cheap, huge difference between stock valuations and project valuations, festive demand is tepid but prices are not falling," said Hiten Gala, a senior manager advisory at Brokerage Sharekhan, listing reasons for the rally.
HDIL surges 6 percent, DLF (DLF.NS) gains 1.9 percent while Indiabulls Real Estate is up 3.6 percent.
(Reporting by Rafael Nam)
NEW DELHI Philip Morris International is fighting to keep a toehold in India's $11 billion tobacco market, as the government considers further tightening foreign investment rules in the sector, according to documents seen by Reuters.
DAVOS, Switzerland A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos.